Tech Leads Trade-Induced Stock Rally

The retail sector was another big winner from the White House's tariff decision

by Josh Selway

Published on Aug 13, 2019 at 4:26 PM

Stocks got a shot in the arm today, thanks to news the Trump administration plans to delay some tariffs previously expected to go into effect in September. President Donald Trump admitted to the press that the move was meant to take the burden off consumers during the holiday season, and the news was a boon to the tech sector in particular, with Apple (AAPL) shares pacing the Dow's nearly 400-point surge. Retail stocks also got a boost, helping the S&P 500 notch an impressive win, while investors considered surprising inflation data, as well.

Continue reading for more on today's market, including:

The Dow Jones Industrial Average (DJI - 26,275.24) added 367.9 points, or 1.4%, with Pfizer (PFE) and Boeing (BA) ending up as the only two blue chips to close in the red, down 0.5% and 0.02%, respectively. AAPL's 4.2% gain was the best of the other 28 Dow components.

The S&P 500 Index (SPX - 2,926.32) picked up 42.6 points, or 1.5%, and the Nasdaq Composite (IXIC - 8,016.36) rose 152.95 points, or 2%.

The Cboe Volatility Index (VIX - 17.52) shed 3.6 points, or 16.9%.

closing indexes aug 13

NYSE and Nasdaq Aug 13

5 Items on our Radar Today

  1. Data from the Federal Reserve Bank of New York showed growing trouble for U.S. credit card holders. Balances grew to $868 billion during the second quarter, and the number of people late on payments is on the rise. (Reuters)
  2. Another study shows that companies with more women in leadership positions tend to perform better. The most recent numbers come from Morgan Stanley, which used information on almost 1,900 companies since 2010 to show that higher percentages of women bosses correlated with better stock performances. (MarketWatch)
  3. Nvidia gets a pre-earnings bear note.
  4. Cruise stock could be perfect pick for bearish traders
  5. Our founder and CEO Bernie Schaeffer writes about the strength in the dollar.

corporate earnings aug 13

Unusual Options Activity Aug 13

Data courtesy of Trade-Alert

Oil Gains During Stock Rally

Oil prices rose alongside equities today. Crude futures dated for September settled up $2.17, or 4%, at $57.10 per barrel.

Gold prices moved lower during the risk-on session. December gold futures fell $3.10, or 0.2%, to trade at $1,514.10 an ounce.


START YOUR SATURDAY SMARTER.


The best of Schaeffer's market analysis in a 5-minute weekly read.


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


IRA/401K Investment Guide: 2019 Stock Market Crash
Use gold to protect any IRA, 401(k), or retirement account from a looming financial crisis.
Dow Stock Stays Hot Amid Buyout Rumors
Tupperware suspended its quarterly common dividend last week
SunPower Stock Shines After Spin-Off
SPWR has found support at its 320-day trendline
16-Hour "Jump Trades" Unlock New Profit Potential
Click to continue to advertiser's site.